Capital values across major high-end and mid-end segment properties in Chennai and Hyderabad stabilised in the third quarter (July-Sept) of 2009, according Cushman & Wakefield.
Capital values across major high-end and mid-end segment properties in Chennai and Hyderabad stabilised in the third quarter (July-September) of 2009, according to international property consultants, Cushman & Wakefield.
Bangalore, on the other hand, continued to witness correction in prices across micro markets in the city.
With conservative launches and slightly improved sales in Bangalore, prices largely continued to correct, although the rate of correction dropped to a large extent.
Chennai and Hyderabad also saw cautious project launches coupled with a gradual shift to ensure delivery and promotion of previously launched projects to maintain its stable price trend.
End-user interest was better placed over investor interest in Bangalore in the third quarter. This rise in end-user confidence, together with improving economic conditions, favourable borrowing conditions and rationalised capital values cumulatively led to reviving of sales volumes in the housing sector.
In Chennai, the third quarter saw cautious and limited project launches with increased developer focus on the affordable segment as well as a gradual shift to ensure delivery and promotion of previously launched projects at more attractive prices or with different features and positioning.
Rental and capital values in 3Q 2009 witnessed minimal correction in Hyderabad as price points inched closer to buyer expectations. The last 3-4 months saw developers getting conservative in launching new projects especially in the luxury segment.
After recording a slowdown in activities over the past few months, Mumbai witnessed an increase in demand for the residential sector in 3Q 2009.
Easing of liquidity constraints, softening of home loan interest rates and recent correction in capital values have resulted in an increase in demand from both end users and investors alike. This has resulted in appreciation of capital values across a few micro markets.
Not surprisingly, Mumbai has witnessed a surge in new project announcements in both mid and high-end segments from prominent builders across various micro markets in 3Q 2009.
In NCR, post a sharp decline in the past few quarters, capital values have started to strengthen and register marginal appreciation across most micro-markets.
The launch of new projects catering to the mid segment witnessed heightened activity resulting in price escalation.
After witnessing a slump over the last few quarters Pune residential market is showing signs of revival. The market was characterised by a positive sentiment and increased activity was witnessed in 3Q 2009.
Capital and rental values appreciated across the city in the third quarter.
Kolkata residential market registered stabilisation in both the rental and capital values across segments and micro-markets.
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